The key information sources under this information category are as under:
S.No | Information | Information Description |
1 | Receipts from contract (Section 194C) | Information pertaining to amount paid to contractor is reported by contractee in form 26Q. This information is provided by the deductor to the deductee (taxpayer) in Form16A. |
2 | Receipts from a contract/work (Section 194M) | Information pertaining to amount paid to the service provider is reported by recipient of services in form 26Q. This information is provided by the deductor to the deductee (taxpayer) in Form 16A. |
3 | Receipt of Fees for professional or technical services (Section 194J) | Information relating to payment of commission or brokerage is reported by deductor in form 26Q. This information is provided by the deductor to the deductee (taxpayer) in Form 16A. |
4 | Receipt of fee for professional service (Section 194M) | Information relating to payment of contract/work is reported by deductor in form 26QD. This information is provided by the deductor to the deductee (taxpayer) in Form 16D. |
5 | Commission or brokerage received (Section 194H) | Information relating to payment of fees for professional service is reported by deductor in form 26QD. This information is provided by the deductor to the deductee (taxpayer) in Form 16A. |
6 | Receipts from commission (Section 194M) | Information relating to payment of commission or brokerage is reported by deductor in form 26QD. This information is provided by the deductor to the deductee (taxpayer) in Form 16D. |
7 | Amount Received from e-Commerce Operator to wards sales/services provider (Section 194O) | Information pertaining to amount paid to e-commerce participants is reported by e-commerce Operator in form 26Q. This information is provided by the deductor to the deductee (taxpayer) in Form 16A. |
The approach for AIS processing and information handling is as under:
Deductor/buyer/service provider while making payment in respect of professional fees, commission, contracts etc deducts tax and reports the same through TDS form like 26Q and 26QD. These receipts are usually in the nature of Business or profession being carried out by the recipient and are chargeable under the head income from business and profession.
The AIS information level feedback can be used for providing following inputs:
Information is correct
Receipts is not taxable
Receipts in the nature of reimbursement of expenses
Receipts in the nature of refundable security
Receipts treated as capital receipt
Information is not fully correct
Information relates to other PAN/Year
Information is duplicate / included in other information
Information is denied
The feedback provided by taxpayer will be shown separately in AIS and will update the value in Taxpayer Information Summary (TIS).
Sum of Business Receipts from all service recipients will be reflected as AIS Summary Level.
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